State budget estimates for 2025 must be built on the national information system on land, taxpayers... Photo: Internet

Closely following the socio-economic situation

Regarding the assessment of the state budget collection task in 2024, the Ministry of Finance requests ministries, central and local agencies to review and evaluate factors affecting the ability to implement state budget collection in the first six months of the year and expected ability to implement this task in the last six months of 2024, focusing on clarifying advantages and disadvantages; propose solutions to strive for the highest revenue targets decided by the National Assembly, assigned by the Prime Minister and decided by the People's Councils at all levels.

For the work of developing State budget estimates for 2025, the Ministry of Finance requires closely following the socio-economic and financial situation at home and abroad, carefully taking factors increasing, decreasing and shifting revenues into account due to the change of legal policies on collection and revenue management, especially policies on exemption and reduction of taxes, fees, charges and extension of payment deadline for taxes, land rents, the implementation of roadmap on tax reduction and incentives to implement the Government's commitments in the process of international economic integration with foreign investors, the implementation of regulations to prevent global tax base erosion.

Besides, the development of State budget estimates must be associated with drastic implementation of administrative reform measures and modernization of revenue management, strengthening of revenue management and anti-revenue loss, especially anti-tax loss in business and real estate transfer; effective management of new revenue sources arising in the context of digital economic development and e-commerce; tax inspection and audit, combat transfer pricing, tax evasion, tax fraud, drastically handling tax arrears and strictly controlling tax refunds.

In 2025, striving to estimate domestic revenue (excluding land use fees, lottery revenues, proceeds from the sale of state capital at enterprises, dividends, after-tax profits and the difference between the Bank's revenues and expenditures), and average increase of about 5-7% nationwide compared to the estimated performance in 2024 (excluding factors of increase and decrease in revenue due to policy changes). The revenue growth rate in each locality is consistent with economic growth and revenue sources generated in each area, taking into account the factors of strengthening revenue management, preventing revenue loss and collecting tax debt. Estimated revenue from import-export activities in 2025 will increase about 4-6% compared to the estimated results in 2024 (after excluding policy factors).

Ensuring correct and complete calculation of each revenue, tax type, and field for each area

Regarding the construction of local revenue estimates, the Ministry of Finance requires localities, when developing local revenue estimates in 2025, to estimate all state budget revenue sources arising in the area.

State budget revenue estimates for 2025 must be built on the national information system on land and taxpayers; ensuring the correct and complete calculation of each revenue, tax, and field of collection for each area, detailed revenue from newly put into operation projects with large revenues according to current regulations on taxes and fees, charges and other revenues from the state budget; details of each charge and fee according to regulations; policy adjustment regulations according to the roadmap continue to affect state budget revenue in 2025 and regulations are expected to be amended, supplemented and applied in 2025.

Particularly, the estimation for revenues related to housing and land is carried out in accordance with the law on housing and land; closely follows the planning and land use rights allocation plan, auction of land use rights and land lease rights in the locality, 19 approved plans on house and land arrangement; work with the Tax agency to develop land use fee revenue estimates in accordance with the spirit of guidance in Resolution 91/2023/QH15 dated June 19, 2023 on approving the 2021 state budget settlement.

According to the Ministry of Finance, revenue from real estate rearrangement, handling of public assets, revenue from leasing exploitation rights, transferring for a defined tern the right to exploit infrastructure assets; revenue from management and use of infrastructure assets invested and managed by the State in a manner that is not included in State capital at enterprises and revenue from exploitation of land and water surface funds (after deduction related costs) must be fully estimated and remitted to the state budget in accordance with the provisions of law.